Hemmant Warehouse Sold for $1.2 Million
A freestanding industrial building at Hemmant in the Australia TradeCoast precinct in Brisbane’s east has been sold by Ray White Industrial Milton for $1.2 million.
The warehouse/office facility at 1327 Lytton Road, Hemmant, was sold to a local investor by Ray White Industrial Milton Principal Stephen Ferguson on behalf of a private owner for a yield of 7.5 per cent.
“The Offers to Purchase marketing campaign attracted more than 30 enquiries and a total of seven inspections were made and we received three formal expression of interest offers,” he said.
“The vendor is leasing back the property for the next 12 months as he is building a new facility in the TradeCoast precinct.”
Stephen Ferguson said the tilt panel building offers a net lettable area of approximately 590 sqm and is on a land area of 819 sqm.
“The property is securely fenced and gated and enjoys excellent exposure to Lytton Rd with huge signage possibilities,” he said.
“The site has plenty of on-site parking as well as seven exclusive car spaces. With limited stock in the TradeCoast precinct, and businesses needing to be close to the Port of Brisbane, there is usually demand for this type of property.”
Hemmant is located 11km from the Brisbane CBD and is approximately five minutes’ drive from the Port of Brisbane.